Elevator Pitch is a regular feature on Lifehacker where we profile startups and new companies and pick their brains for entrepreneurial advice. This week, we’re talking with Mark Bevan, CEO of Joust.
In 128 words or less, explain your business idea.
Joust is a digital disrupter in the home loan market. Joust connects you directly with up to 7 lenders on our revolutionary, live auction platform. Lenders can see each other’s bids in real time and you watch on your mobile as they drive the rates down to win your business. Lenders can keep bidding and battle it out to the end of the auction.
What strategies are you using to grow and finance your idea?
We launched with a “pilot” in South Australia on 1 June 2016. The learnings from the pilot will be crucial as we pursue our growth and expansion plans in to Victoria in October 2016 and then a full national rollout in January 2017.
What’s the biggest challenge facing your business?
Consumer awareness for a brand that is starting from scratch in a market place as massive as the Australian Home Loan segment.
How do you differentiate your business from your competitors?
We are truly live and truly transparent. Our innovative technology has been provided to our participating lenders and we have successfully created the lowest cost origination channel for lenders and most dynamic and transparent process for consumers.
What one phone, tablet or PC application could you not live without?
Sportsbet.
What’s the best piece of business advice you’ve ever received?
Break big projects down in to “bite-size” chunks and Prioritise.
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